Integration To Deliver Improved Home Equity Solution

AUSTIN, Texas, July 13, 2021 – FirstClose, Inc., a leading Fintech provider of lending solutions for banks, credit unions, and lenders nationwide, announces a new integration with MeridianLink Consumer, formerly known as LoansPQ®, the industry’s leading loan origination system, providing a full loan product suite to banks and credit unions. As a single loan origination system, MeridianLink Consumer consolidates and streamlines applications from all channels, applying processes to ensure a streamlined process for bank and credit union staff and a world-class consumer experience for members and customers.

Those with mortgages — about 62% of all properties — saw their equity jump by 20% in the first quarter of 2021 from a year earlier, according to CoreLogic. This represents a collective cash gain of close to $2 trillion. Per borrower, the average gain was $33,400.

“Homeowner equity has more than doubled over the past decade and become a crucial buffer for many weathering the challenges of the pandemic,” said Frank Martell, president and CEO of CoreLogic. “These gains have become an important financial tool and boosted consumer confidence in the U.S. housing market, especially for older homeowners and baby boomers who’ve experienced years of price appreciation.”

As borrowers look to tap the significant increase in their home values, FirstClose and MeridianLink have teamed up to build a first-of-its-kind home equity solution for lenders. The solution combines the power of MeridianLink  Consumer and FirstClose One to streamline lenders entire fulfillment process.  The solution reduces operational touchpoints and improves the overall lending experience for members and customers.  

Lenders Using this solution have experienced: a 35% increase in online applications, a 25% increase in pull through and a 30% reduction in turn time (app to funding).

“The demand for a simple and easy way to get instant feedback on a home value, available home equity and instant loan decision while applying for a Home Equity Line of Credit has become a business imperative,” said Tim Smith, CRO, FirstClose. “We could not be more pleased with our partnership with MeridianLink and our combined ability to meet the home equity needs of our joint members and customers.”

FirstClose Acquires HomeScout

AUSTIN, Texas, April 20, 2021 FirstClose, Inc., a leading Fintech provider of lending solutions for banks, credit unions, and lenders nationwide, announces the acquisition of Reflect Resources, DBA Moxie Consulting, and Home Buyers Marketing 1, Inc., combining both companies to form HomeScout, LLC as a wholly-owned subsidiary of FirstClose, Inc., transforming real estate engagement for the consumer, lender, and Realtor. 

HomeScout will bring together various services to the mortgage and title industries, including purchase and portfolio business solutions, lead generation, lead qualification, agent match, monitoring, and a real estate referral network, bringing marketing engagement to the forefront leveraging property data and insights. 

The newly formed HomeScout mission will be to put loan officers and lenders at the top of the funnel when it comes to real estate engagement, empowering individual loan officers, enterprise lenders and Realtors to deliver a customer experience like no other.  HomeScout provides a consumer-facing real estate experience to find a home, find a loan, and find a Realtor through a highly engaging experience creating customers for life. 

What drives success for their customers is HomeScout’s ability to produce quality engagement, the processes that they have built around consumer conversion, and the concierge services that they apply to make sure that the consumer, the real estate agent, and the loan officer work seamlessly together to fund the loan and deliver the home of the consumer’s dream.

“The demand for a personal and highly engaging experience throughout the real estate transaction has become a business imperative,” said Tedd Smith, CEO, FirstClose. “FirstClose’s powerful settlement services, extensive property data collection, and expertise, combined with Home Scout’s engagement solutions, will transform the customer experience throughout the real estate transaction.”

HomeScout will be led by industry veteran and real estate engagement expert David Camp.  David has been named President of HomeScout, LLC.  He brings extensive expertise in creating and delivering customer experiences unmatched in the real estate and mortgage industries.  He is the former CEO of Reflect Resources, a media company focused on providing marketing, sales, and lead generation services. David will be working closely with Steve Polston, founder of Home Buyers Marketing, who will serve as EVP of Enterprise Relationships.  The experience and David and Steve bring tremendous value to the market.  The focus will be on empowering lenders and title companies to effectively engage consumers and real estate agents to drive purchase transaction volume.